Excess of purchased goodwill over the current market value of subsidiaries

As I understand it, the company has acquired $8bn of 'goodwill' from the subsidiaries it purchased at 2007 prices. The last time it did this it wrote of $6bn in 2002? and lost ($11) per share on the year.

Would be nice to think that it will take less than a year for the market to see reliable results and returns on this purchased goodwill.

Oil Prices Down For The Long Haul

Demand for oil rigs is tied to demand for oil. The ongoing economic crisis has drastically pushed down demand growth for petroleum. Growth projections for China, who drove the recent spike in energy demand, have been downwardly revised multiple times. Even if prices don't fall further, oil futures paint a bleak picture for the future, expecting demand to recover at a snails pace. As the current crisis worsens, demand for oil rigs will continue to suffer.